American Express Credit Card Eligibility
American Express has a set of eligibility conditions for issuing a new credit card in India. Amex undertakes the prevailing credit score of an individual, age, residential status, stability of income and past repayment behaviour before approving a credit card application.
American Express Credit Card Eligibility Criteria in India
| American Express Credit Card Eligibility | |
|---|---|
| Minimum Age | The age of the applicant should be 18 years or above and should be resident of India. |
| Minimum Income | The personal annual income of the individual should be more than Rs 4.5 lakh p.a. For Self-employed individuals, the annual income should be more than Rs 6 lakh or have a trading history for the firm of over 12 months. |
| Credit Score | The individual should exhibit a prime credit score, preferably over 750 with no history of defaults on repayments. |
| Banking Relationship | The applicant should have a savings or current bank account with any Indian or foreign bank operating in India. |
| Residence | Amex cards are only offered to people residing in Tier-1 and Tier-2 cities including Delhi-NCR, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, Ahmedabad, Jaipur, Pune, Chandigarh, Bhubaneshwar, Indore, Lucknow, Mysuru, Nagpur, Bhopal, Cuttack, Nasik, Coimbatore, Surat, Vijayawada, Vizag, Vadodara, Ludhiana and Ernakulam. |
The credit score requirement is indicative, it doesn’t imply that credit card applications of individuals with a credit score of 730 are set to be rejected. And, at the same time, people with a credit score of 760 are confirmed to get a desired Amex credit card.
American Express Credit Card® Eligibility Factors
Multiple eligibility factors are taken into consideration in deducing the eligibility of an individual for a credit card, afterall credit card remains an interest-free line of credit attached to a plastic.
- Age of Applicant: For American Express charge, as well as credit cards, the credit card applicants should attain a minimum age of 18 years before filling up the form as age remains a principal factor for determining eligibility.
- Income Requirement: The minimum income should be more than Rs 4.5 lakh. This requirement is true and valid for American Express SmartEarn credit cards only. The minimum income requirement varies with the types of Amex credit cards available to retail customers. For instance, the minimum income requirement for salaried individuals is Rs 25 lakh p.a. for an American Express Platinum charge card.
- Residency: Next comes the residency. At the moment, Amex credit and charge cards are only available to individuals having a permanent or temporary residence in a handful of Tier 1 and Tier 2 cities.
- Credit History: The credit profile should be in good shape before applying for a new American Express credit card as the bank rejects credit card applications with no or damaged credit score.
How to Check American Express Credit Card Eligibility
American Express also has the facility for checking the eligibility for the desired charge or credit card before filling in the credit card application form. This works wonderfully well for new, as well as existing credit card users as there is a possibility that a rejected credit card application might impact your credit score.
In order to protect the credit score of individuals from unwarranted damage, American Express has instituted a pre-application eligibility checker that indicates the likelihood of getting a credit card application approved before the submission of an official Amex credit card application.
American Express has partnered with Experian to run the pre-application check as the bank guarantees that a soft check from their portal will not affect the credit score of an individual.
American Express credit card pre-application eligibility checker only consumes 30 seconds as you are required to fill in a few personal details. Following the successful submission of a pre-application form for Amex credit cards, the applicant will be shown a page showcasing that the pre-qualification for the credit card has been approved, denied or is under process.
Step 1: American Express demands three simple details including the complete name of the applicant, email address and the telephone number.
Step 2: After this, the applicant will be mandated to provide the consent and click on ‘Verify and Check Eligibility’.
Step 3: The next page will show you Amex credit card eligibility according to your filled in details and credit profile.
Step 4: Upon successful approval in the pre-qualification round, the user will be redirected to the American Express® Cards page.
Step 5: An applicant can then select the desired card and apply for it. After a successful pre-qualification round, the applicant can expect to receive a call from the American Express credit cards team to verify further details as applicable.
How to Improve American Express Credit Card Eligibility
Credit Score: As a credit card applicant, you have to make sure that your credit score is undamaged and there is no recent case of a default on repayment. A default on repayment is never acceptable, but a fresh default in repayment can critically dent your chances of securing the desired credit card.
Income Range: The defined income ranges for separate credit cards are censorious as one can’t become eligible for a super-premium credit or charge card with an income that fits the eligibility conditions for an entry-level credit card. Apply for a credit card that fits well within your earning potential. In order to qualify for a premium Amex credit card, try increasing your net income to the desired level.
Existing Debt: If your existing debt obligations are exceeding your earning capacity then the bank may reject your credit card application even if your credit score and income range qualify the minimum criteria set by American Express.
Eligibility Criteria for Top American Express Credit Cards in India
| Minimum Income Requirement For American Express Cards | ||||
|---|---|---|---|---|
| AMEX Card | Minimum Income Requirement | |||
| Salaried | Self Employed | |||
| American Express SmartEarn™ Credit Card | Rs 4.5 Lakh p.a. | Rs 6 Lakh p.a. | ||
| American Express PAYBACK® Credit Card | More Than Rs 6 Lakh p.a. | More Than Rs 6 Lakh p.a. | ||
| American Express Membership Rewards® Credit Card | ||||
| American Express® Gold Card | ||||
| American Express® Platinum Travel Credit Card | ||||
| American Express® Platinum ReserveSM Credit Card | ||||
| American Express® Platinum Card | Above Rs 25 Lakh p.a. | Rs 15 Lakh p.a. | ||
Apply for American Express Credit Card in India - Documents Required
American Express requires a PAN, proof of address and a passport size photograph for KYC purposes of Amex credit cards and Amex charge cards.
- Photograph: A recent passport size photograph.
- PAN: A user is mandatorily required to submit a copy of PAN. Those who don’t possess a PAN can provide a copy of Form 60.
- Address Proof: A copy of any one officially valid document is also required to meet the address proof and identity proof criteria from passport, Voter ID card, Job card issued by NREGA, Aadhaar card, a letter from the national population register (NPR) and a copy of driving license.
- For Foreign Nationals: Foreigners looking to obtain an Amex credit/charge card in India are required to furnish the documents issued by the respective Foreign Embassy of Mission in India and the documents provided by the departments of foreign government’s jurisdiction.
American Express Credit Card Eligibility FAQs
The minimum income criteria for an American Express credit card is Rs 4.5 lakh p.a. The income criteria is subject to vary for different types of American Express credit cards. The minimum income criteria can be accessed through the table provided above.
A premium Amex credit card has a higher requirement for net income and is offered to individuals with impeccable credit history, timely repayments, stability of income and nature of employment.
The minimum age to secure an American Express card is 18 years. However, the age of the applicant acts as a filter only. The final eligibility is determined by factoring in other parameters including credit score, income, residency and nature of employment.
Individuals with no history of credit or those who have a damaged credit profile will find it difficult to obtain an Amex credit card. American Express rejects credit card applications of people who have a broken credit profile or are very new to credit facilities.
You should be always careful before aggressively applying for new credit cards if your first application is rejected as further denials can materially bring down your credit score. This can effectively reduce your chances for other credit facilities.
Amex SmartEarn credit card is the entry-level American Express credit card. This card has a minimum income requirement of Rs 4.5 lakh p.a. and is offered for an annual fee of Rs 495 + GST.
The eligibility conditions for American Express credit cards are not hard. The eligibility qualification is more on the tactical side as Amex strictly filters credit card applications based on the age, residency, income level and credit score.
There could be multiple reasons for your Amex credit card application getting rejected. A low or disturbed credit score is one. Other factors include residential status, income level, status of employment and high debt-to-income ratio.
American Express Platinum Charge card is the most premium card offering from Amex. This is offered for an annual fee of Rs 60,000 + GST and the minimum income requirement for Amex Platinum charge card is Rs 25 lakh p.a. for salaried individuals and Rs 15 lakh p.a for self-employed.
American Express Platinum Travel credit card, American Express Membership Rewards credit card, American Express Platinum Reserve credit card, American Express Gold charge card and American Express Platinum charge card offer complimentary airport lounge visits.